A demonstrator is holding a sign during a rally on Wall Street, New York. This reflects the public's perspective that the economic recovery is exaggerated.
A recent poll was taken, asking, "Many economists say that using the standards they apply, the recession probably is over. Thinking about your own experience of economic conditions, would you say that from your point of view the recession is over, or not over?"
The percentage of people claiming it isn't over: 82 percent.
Also, 74 percent of people in this poll are worried about the direction of the nation's economy within the next few years, dropping 14 points from 14 years ago. This can at least put some sense of hope among some. Six in 10 are still concerned about their family's financial prospects. These are a few claims to why the recession is still an ongoing battle.
According to my experiences, the economy does seem to be brightening up comparing to last year, but is it as good as it should be?
6 comments:
Its because unemployment and underemployment are so high. I'm not sure if these figures were national or California-specific, but the unemployment and underemployment rates added together equaled 25%. Even people who have not had to take pay cuts or have been laid off know many people who have and are still struggling, and this informs their perception of the economy. And while the stock market is up 50% since market, the market has actually lost jobs over the same period. So until the job market improves considerably, I don't think we're going to see a huge change in people's opinions on the economy.
I definitely do not think the economy is recovering. Recovery from a severe recession takes much longer than a single year. And, at the rate the government seems to be printing money, it looks like inflation is a very probable problem in the future. In fact, i already see signs of it now.
Also, though I keep hearing about budget cuts, talk of our enormous, growing deficit comes right along side it. Something about that does not add up. If we truly were being more fiscally responsible, shouldn't our debt be decreasing? I think all this news about our "recovering economy" is merely a ploy to lift the spirits of the american people. Though this might be an admirable goal, it seems awfully shortsighted to me. As the saying goes "if it sounds too good to be true, it probably is". Just a year after a severe recession, a recovering economy sounds too good to me.
I don't think the economy is recovering. At least not so soon. Recovery takes much longer than one year. Especially since the unemployment rate is increasing at such a high rate. People are currently being laid off too. I think the job market has a huge impact on the economy. Until this improves, I don't think the condition of the economy will go anywhere near improvement or full recovery.
"I think all this news about our 'recovering economy' is merely a ploy to lift the spirits of the american people."
Ah, you hit my point. I think the whole point of the Obama campaign was to hammer in the idea of 'hope.' I'm pretty sure Obama planned to use this idea of hope to increase the confidence level in the market. This would increase money flow and the economy would be back on its feet. The thing is, business leaders were too hesitant to put money back into the system because it sounded "too good to be true."
The simple solution might look clear, but it really isn't. To put confidence back into the market isn't as easy as everyone thinks. The government really needs to take control because it doesn't seem like putting the recession in the hands of the people is working. Increased taxes, ending the war, and decreased government spending should do the work. We'll see how Obama handles these problems within the next 3 years.
i feel that the media is just putting this kind of news out there to make the country think that the economy is getting better faster than it really is.
I personally dont feel that the recession has gotten any better. This was all just a plan to help the U.S. gain back some hope.
"Increased taxes, ending the war, and decreased government spending should do the work."
It seems like the economy is just all goes in a fat circle. Reducing government spending means a loss in thousands of jobs from City and State workers. Unemployment will continue to increase. Welfare and unemployment pensions will increase government spending, and then what was originally intended seemed to backfire. The stimulus package seems to set a precedent that there won't really be a decrease in government spending.
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